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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The euro is staying near the local minimum
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The euro is staying near the local minimum

On Friday morning, the main currency pair is barely moving, but is still close to significant lows.

The euro/dollar is trading around the 1.0626 level on Friday morning, growing a little, but market activity is kept at a minimum. Yesterday the US markets were closed because of the celebration of Thanksgiving Day, on Friday the United States expects shorter working hours. There are no American statistics on the calendar today - but there are some European.

The euro zone will present statistical data on the business climate index in the euro zone in November. Germany will publish a report on consumer confidence index by GfK in December. Both of these releases are expected in the forecast, and it is unlikely that there are distinct occasion for active movements. Investors prefer to probably wait for a new week - where the amount of statistics and important occasions will be high, and the added tension will require additional energy.

In general, on Friday, the EUR/USD pair is most likely to remain in the narrow corridor of 1.0580-1.0645. Anything that helps the instrument to go beyond the scope of these frames will only happen next week. The European Central Bank is holding a meeting on December 3, and the main issue on the agenda will be the expansion of the QE stimulation program. Now it is 60 billion euro monthly. Any comment of the European monetary policy on this subject is able to further weaken the European currency - to the capital markets it is a nervous topic, given the approach of the December meeting of the US Federal Reserve.
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